WRDA 2024 Passes Senate, Strengthening U.S. Steel Infrastructure
The U.S. Senate has approved the Thomas R. Carper Water Resources Development Act of 2024 (WRDA 2024) with broad bipartisan support, passing by a 97-1 vote. This legislation authorizes critical investments in U.S. water infrastructure, focusing on ports, inland waterways, locks, and dams. These projects are crucial for efficient transportation of steel and raw materials. The American Iron and Steel Institute (AISI) has praised the bill, highlighting its importance for improving marine transportation systems.
AISI President Kevin Dempsey emphasized that these investments are vital for the competitiveness of the U.S. steel industry. The bill funds 21 new water projects, enhancing the infrastructure needed for steel manufacturing. Modernizing these waterways will boost supply chain efficiency, improving the movement of raw materials and finished steel.
Infrastructure Updates and Cost-Share Formula to Support Steel Industry
A major feature of WRDA 2024 is the updated project cost-share formula. This aims to streamline the construction and upkeep of inland navigation projects. Dempsey explained that these upgrades will not only aid steel manufacturers but also create jobs and stimulate economic growth. By reducing transportation bottlenecks, the bill will strengthen the U.S. steel industry’s global competitiveness.
AISI’s Advocacy for WRDA 2024
AISI has been a strong advocate for WRDA 2024. Last week, they sent a letter to the U.S. House of Representatives urging support for the bill. This week, they reached out to Senate leadership to ensure its passage. With the bill now heading to the president’s desk, Dempsey expressed confidence that it will fortify the U.S. marine transportation system, supporting long-term economic growth and resilience.
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